PotashCorp reports improvement in earnings, drops bid for ICL

10:12 AM MDT | April 25, 2013 | Lindsay Frost

Improved global potash demand and record first-quarter nitrogen contributions helped contribute to stronger earnings and sales for PotashCorp. (PCS), with net income up 13% year-on-year (YOY), to $556 million on sales up 21%, to $2.1 billion. Earnings per share of 63 cts/share surpassed analyst estimates of 59 cts/share, as reported by Thomson Reuters (New York). Offshore investments in Arab Potash Company (APC; Jordan) and Sociedad Quimica y Minera de Chile (SQM; Chile) contributed around $77 million to earnings, the company says. "We had significant growth...